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49 pc stake for foreign airlines likely

By The Assam Tribune
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NEW DELHI, Jan 17 � Accepting a major demand of the cash-strapped aviation industry, the government today said it would soon launch the process to allow foreign airlines 49 per cent stake in Indian carriers.

A meeting between Finance Minister Pranab Mukherjee and Civil Aviation Minister Ajit Singh also decided to immediately release Rs 150 crore for payment of portion of pending salaries and allowances of Air India employees, including pilots.

Replying to questions after the 75-minute meeting, Singh said �the question was to allow foreign airlines to participate in FDI. I discussed it with the Finance Minister and he has agreed.� � PTI

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49 pc stake for foreign airlines likely

NEW DELHI, Jan 17 � Accepting a major demand of the cash-strapped aviation industry, the government today said it would soon launch the process to allow foreign airlines 49 per cent stake in Indian carriers.

A meeting between Finance Minister Pranab Mukherjee and Civil Aviation Minister Ajit Singh also decided to immediately release Rs 150 crore for payment of portion of pending salaries and allowances of Air India employees, including pilots.

Replying to questions after the 75-minute meeting, Singh said �the question was to allow foreign airlines to participate in FDI. I discussed it with the Finance Minister and he has agreed.� � PTI

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